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79% of respondents saw Web 2.0 features such as blogs and social networks as a good way to increase revenues and reduce costs.

However, despite this apparent enthusiasm for Web 2.0 services, the respondents expressed concern over their IT department’s ability to deliver them, whether due to lack of expertise or lack of resources.

26% cited the competence level of their IT staff as the department’s weakest link.

A lack of resources to invest in new technology was the biggest problem with IT departments for 37%.

Meanwhile, the EIU has also released its annual e-readiness rankings, which gauge how easy the internet is to access and use in 69 nations around the world.

The spread of affordable broadband connections outside of Europe and North America has led to Asian and African countries narrowing the digital divide – the gap between the highest and lowest scoring countries dropped from 6.08 points to 5.80 points this year.

Denmark came first in the ratings, with the world’s highest rate of internet penetration, mobile phone penetration, and the highest IT spending level per capita.The UK was number seven.

According to a newly-published study published by Pew, nearly three-quarters of Facebook users polled said they didn’t know that Facebook generates and stores data about their interests and traits, and, when they came to learn this, over half indicated that they were uncomfortable with Facebook’s practice.

Mastercard, the third-largest credit card processor in the US, has announced a new policy that will make it more difficult for some businesses to automatically convert free trials into recurring subscriptions.